Legal amendment requires national sports fund
The law requires the fund to be operational within two months of the ratification date.
President Dr Mohamed Muizzu on Monday ratified amendments to the Sports Act, mandating the creation of a National Sports Fund aimed at promoting and supporting the development of sports in the Maldives.
A ratification ceremony was held at the President’s Office, attended by Attorney General Ahmed Usham, Minister of Sports Abdulla Rafiu, and senior sports officials.
One of the key provisions of the amendment is the addition of a new chapter titled National Sports Fund, which outlines the establishment and objectives of the fund. The law requires the fund to be operational within two months of the ratification date.
According to the Act, the objectives of the fund are:
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To provide financial assistance to sports through a structured policy framework.
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To manage all contributions and financial assistance received for sports in accordance with legal and financial standards.
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To support the development of athletes and others engaged in the sports sector.
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To invest in the development of sports infrastructure.
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To conduct research in the field of sports and provide funding for the implementation of sports-related development projects.
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To invest fund deposits lawfully to enhance the fund’s capacity to meet its objectives.
A seven-member board will be responsible for formulating and implementing the fund’s policies. The board will include the Minister of Sports, one member appointed by the National Assembly on Sports, four members appointed by different Cabinet ministries, and one member representing recognised sports associations.
The Minister of Sports will be required to submit an annual report on the fund’s operations to the President and Parliament within three months of the end of each financial year.
A similar bill was first introduced by the Maldivian Democratic Party (MDP) government in the 19th Parliament. However, it did not proceed past the committee stage. The current administration reintroduced the bill in the 20th Parliament, with revised clauses and the inclusion of the National Sports Fund.
